Composite leading indicators show easing growth momentum in the OECD area

Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend six to nine months ahead, point to easing growth momentum in the OECD area as a whole.

Easing growth momentum is anticipated in large European economies including Germany, France, Italy and the euro area as a whole, as well as in the United Kingdom.

Among major non-European OECD economies, the CLIs point to stable growth momentum in the United States and Japan with similar signs now also emerging in Canada.

Among major emerging economies, the CLIs for China (for the industrial sector) and India point to growth gaining momentum, while growth is expected to ease in Brazil and Russia.